In this paper we present results of joint estimates of factor demand functions in aggregate Swedish industry and in eight of its subsectors using the equilibrium equality between marginal ...

Aggregate production functions are reduced-form relationships that emerge endogenously from input–output interactions between heterogeneous producers and factors in general equilibrium. We provide a ...

It has been shown that under perfect competition and a Cobb-Douglas production function, a basic real business cycle model may exhibit indeterminacy and sunspot fluctuations when income tax rates are ...